In his first-ever interview, the sole Australian survivor of the Waco siege has revealed to 60 Minutes what really took place during the 51-day stand-off, and why he believes crazed cult leader David Koresh will one day return to Earth as the son of God.

Creditors line up for Edelsten's assets

Bankrupt businessman Geoffrey Edelsten faces years of litigation in Australia and the United States, with creditors in both countries lining up to get a piece of his Victorian assets.

Edelsten is being chased by more than 40 creditors , including the Australian Taxation Office, for millions of dollars.

He also owes National Australia Bank, Bendigo Bank and AFL club Carlton among the 41 creditors, while court documents from 2014 say Edelsten owes more than $10 million to his former US business partner Rafael Mawardi.

Edelsten on Wednesday attended the Federal Court in Melbourne to observe a hearing involving his US bankruptcy trustee and the NAB.

Edelsten declared bankruptcy in the US in 2014, prompting his bankruptcy trustee to launch Federal Court proceedings which resulted in Edelsten's Australian assets being handed to an administrator.

NAB is one of three secured creditors owed money by Edelsten, who is being pursued by a further 38 creditors split between the US, Australia, the Dominican Republic and Singapore.

Counsel for the bank, Peter Collinson QC, said NAB are still working out how to navigate Edelsten's US bankruptcy, and litigation in Australia over unpaid loans.